New report cites CEO's aggressiveness and risk-taking, compliant board, lax oversight in California credit union failure.
OIG says agency should amend capital rules to reflect higher risk in member business loan portfolio.
The NCUSIF has taken an estimated hit of $72 million due to the failure of Telesis Community Credit Union, NCUA Public Affairs Specialist John Fairbanks said Tuesday.
Reports will now be delivered as PDFs via secure email.
NCUA says $177 million also put into Premier America purchase and assumption deal for failed credit union's leftovers.
ESL Federal Credit Union, Rochester, N.Y. announced the addition of John Cirella as business banking relationship manager. In his new position, Cirella will be responsible for identifying, developing and managing business banking relationships in the Greater Rochester area.
A week after super storm Sandy slammed into the East Coast, New Jersey Gov. Chris Christie looked ahead to preparations for a nor’easter that was due to dump snow and rain on the already reeling Northeast.
The NCUA announced on April 2 that it has contracted with the $1.3 billion Premier America Credit Union to manage the assets of the $318 million Telesis Community Credit Union during Telesis’s conservatorship. Both credit unions are based in Chatsworth, Calif.
Disasters and missteps are just some of the highlights in this early look at our Year in Review print issue out next week.
Valley First acquires State Center in Fresno; Aloha Pacific completes fifth merger in five years.